Junseth’s World Episode 35: Sacred Blockchains

Blockchains (or “the blockchain” if you still don’t understand technology) are sacred. So sacred they transcend cultures and political systems, earning various levels of admiration from New York to Beijing. You’re not allowed to criticize blockchain if you want to keep your career. That’s according to Junseth in this week’s podcast, putting it up there with global warming — which blockchains may or may not be causing.

Enter the Sacred Temple of Blockchain

If you’re not already aware, co-hosts Junseth and Shawn aren’t fans of bitcoin mining. At least, they’re not fans of having bitcoin miners moving into their town. Bitcoin mining facilities, they say, bring neither jobs nor innovation to your small town and those tempted should follow the example of Plattsburg, NY — and chase them away.

Business ethics are top of the list this week, whether it’s not-so-sacred mines or Somali piracy. When is it OK to factor in cleaning up the mess you’ve created as simply a cost of doing business? And how much damage is truly damaging, so much that it can’t be made right again?

ICOs Are Not So Sacred Though

Speaking of which, the hosts think the SEC’s “Howeycoins” fake ICO looks more like a real ICO than a scam. And that’s the problem — what’s actually the difference between a good ICO and a bad ICO? Junseth isn’t sure the SEC has a full grasp on that.

After all, as he’s been saying for years, many scam operators aren’t aware they’re even running scams. The most well-intentioned bad ideas still end up losing everyone’s money.

Amazingly, that idea itself is controversial because blockchain must only be praised. “Blockchain is sacred to everyone… who isn’t competent,” Junseth says, while wishing someone would write the book about what blockchains can’t do. Rumor suggests they’re simply databases with timestamps and good APIs, but don’t tell that to anyone who’s about to throw a few million at you to build one.

For the Uninitiated: WTF Is Junseth’s World?

JW hosts Junseth, Dante (where is he?) and Shawn are Bitcoin’s Florida Men. They destroy only scamchain marketing pitches, not small towns.

Spawned from the greater Miami area blockchain scene, the three embody that region’s unique approach to life and business. They’ve seen and done things for Bitcoin you probably never imagined … and some you wished you could un-imagine.

Somewhere in the banter, you actually get a good education and some surprisingly useful insights into the world of finance, trading, business and economics. Subscribe to the entire series on Soundcloud.

Do you like Junseth’s World? What would you like us to look at next? Let us know in the comments.

About Jon Southurst

Jon Southurst is a Senior Editor at Bitsonline. He is based mainly in Tokyo, and is interested in the roles Asian economies play in developing cryptocurrency and blockchain technology. Follow him on Twitter @southtopia